Amazon and Constellation Energy Sign 20-Year Nuclear Power Deal
The agreement covers 690 megawatts from Maryland’s Calvert Cliffs plant, including 190 megawatts from upgrades planned for 2030 to 2032.
Amazon and Constellation Energy signed a 20-year agreement for 690 megawatts of nuclear power from Maryland’s Calvert Cliffs plant, supporting planned upgrades and long-term investment in the facility.
The total includes 190 megawatts expected from upgrades scheduled to come online between 2030 and 2032. The planned work is expected to support more than $3 billion in investment across the plant.
Calvert Cliffs has two reactors with about 1,790 megawatts of generating capacity. Its electricity will continue to flow to the PJM regional grid, while a separate retail supply agreement will support Amazon’s operations across PJM’s 13-state market.
The contract gives Constellation revenue certainty as it pursues a 20-year license extension for the plant and considers further development at the site.
Goldman Sachs analyst Carly Davenport called the deal “positive for industry broadly,” pointing to its importance for power suppliers and the PJM market. Constellation CEO Joseph Dominguez said the agreement shows how private investment can strengthen energy infrastructure.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.